Why I'm Finally Spending Money

Here's a breakdown of EXACTLY how much I spend every month, my philosophies on saving money, and how my spending has changed in 2020 - Enjoy! Add me on Instagram: GPStephan

The YouTube Creator Academy:

My ENTIRE Camera and Recording Equipment:

BREAKDOWN:
Car Insurance: $125 per month
Gym Membership: $0 Per Month (Temporarily)
Health Insurance: $230 Per Month
Phone Bill: $70 Per Month
Internet: $75 Per Month
Utilities: $260 Per Month
Gardener: $150 Per Month
Food / Dining Out: $400 Per Month
Other: $200 Per Month
Housing: $7700 per month (Not including rents, equity, tax write offs, etc)
Tesla Model 3 Car Payment: $630 (Not including equity, tax write offs, etc)

Business Expenses:
Teachable: $99 per month
Insurance: $150 per month
S Corp / LLC Filing Gees: $150 per month
Tax Filing Fees: $200 per month
Zoom, Storage, etc: $100 per month
Credit Card Annual Fees: $130 Per Month
Full Time Help / Jack: $7500 Per Month

So, when it comes to everything…these are two big main takeaways that I have learned throughout all of my experiences saving and investing, it just comes down to this:

First, I only view my income as not how much I make, but instead - how much that money makes ME.

For example, if I earn $10,000…I don’t see that as $10,000…instead, I’d see that as $50 per month in passive income when I invest that money into buying a rental property at a 6% return. By that logic, if I’m able to invest $50,000…that’ll cover the basic grocery bill for pretty much the rest of my life. If I can get $350,000 invested in a rental property…that’s enough passive income to cover a 1 bedroom apartment in Los Angeles in a good area. And at $1 million invested…that’ll replace the average annual salary from most full time employees. I challenge you to start thinking the same way, as well…this will make the aspects of saving and investing so much easier, and over time - you can replace all of your expenses by having your money do all the work for you.

Second, beyond the essentials…I only try to buy things that I can put to work that will make more money, or can be seen as an investment.

For example, I consider the computer that I’m editing on right now to be a good use of money, that helps expedite the work I do. Or, buying an extra camera to film on so I could get a second angle for The Graham Stephan Show…or, paying extra to create a brick veneer for the background of my videos so they’re more visually appealing…or, even something like this house that I bought, I find it much more relaxing to work outside and come up with new content - and when I feel more at ease, I tend to produce better quality. If you can find a way to coordinate your expenses around things that will help INCREASE your productivity or income, it can be absolutely worth it.

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

[davidahn]

Homie actually hired his own personal assistant and pays him a $90k/year salary. What a boss 😎

[RedaHarras]

It drives me crazy when I hear people saying that saving is making a sacrifice. For me saving is buying freedom! The less I spend the more I save and the more freedom I have!

[ikedakazuto]

I think Graham should eat breakfast lunch and dinner at Starbucks for a whole day and review your experience in a video.

[dylan_bitzan]

Should have been titled "My girlfriend made me start spending money"

[chrismesa-investing]

Jack is making 90k a year. I would have dropped out of college too. Plus he is learning how to run a YouTube business from Graham himself. I see Jack making big moves in the future. 💪

[MisterPol]

I'm sure Graham finds a way to tax write off his 20 cent coffees

[nicdoge]

Remember kids, every cent you spend on Starbucks breaks Grahams heart

[sergeyk]

Just don't forget the Story of the Mexican Fisherman:

An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked.  Inside the small boat were several large yellowfin tuna.  The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, “only a little while. The American then asked why didn’t he stay out longer and catch more fish? The Mexican said he had enough to support his family’s immediate needs. The American then asked, “but what do you do with the rest of your time?”
The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos.  I have a full and busy life.” The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise.”
The Mexican fisherman asked, “But, how long will this all take?”
To which the American replied, “15 – 20 years.”
“But what then?” Asked the Mexican.
The American laughed and said, “That’s the best part.  When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!”
“Millions – then what?”
The American said, “Then you would retire.  Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

[JonathanSorunke]

I remember when Graham used to scold people for spending more than $200/month on food 😂

[christophertaylor]

"Money can't buy happiness but It does buy you 74 degrees."

[dianacarolina]

I'm sure the girlfriend really appreciates the extra time you have, just being able to spend extra time together is something I appreciate with my significant other

[christophera.kreusel]

My brain wouldn’t accept this title and autocorrected it to:

Why I finally stopped spending money

[PierceJPeterson]

Ahh the simple pleasures in life: not spending money and smashing the like button 👍🏻

[jenkins]

Really interesting how many of the comments are just blaming his girlfriend for the extra expenses even though the video is pretty clear about it being Graham's own expenses.

[beatsbyandrew]

For a hot second I thought he was going to announce he's having a kid, though unless he adopts someone in their last year of law school that would be a terrible investment

[Je.rone_]

It feels good to hear someone say they get enjoyment out of saving the same way other people get enjoyment out of spending... I have been trying to explain this feeling to people all my life and they are incapable of understanding, I'm happy im not alone

[linkstar]

"The one who saves when he has, eats when he wants" ("El que guarda cuando tiene, come cuando quiere"). Thank you grandma for teaching be how to live an intelligent life ❤️

[canadude]

Over the years, I have learned to strike a nice balance of being frugal but still enjoying life too. It took a while to learn that balance though.
My definition of "frugal" is: you are frugal with *your* expenses but still generous to others. (no one will know you are being frugal with your own finances)
My definition of "cheap" is: you are frugal with your expenses AND you are cheap with your generosity (you never pick up the tab and give terrible gifts and don't donate to charity, etc)
The people who are "cheap" in my definition live pathetic lives, have no friends and die with out anyone noticing.
But frugal people enjoy a nice standard of living and have strong genuine friends and investments helping them keep that standard of living.

[larrydavd]

Me reading the title: Graham is buying Starbucks Pumpkin Spice Lattes 😯

[ZachSchieffer]

*“Spend extravagantly on the things you love, and cut costs mercilessly on the things you don’t.”*
― Ramit Sethi, I Will Teach You To Be Rich